Operational Risk

There was a time when the COO was worried from an operational risk perspective about functional errors, manual processes, the level of commission leakage within the business and the impact of the large number of ad hoc software applications held together by “sticky tape” which has multiplied over the years.

But nowadays, the spectre of heavy fines from the regulatory authorities for the risks associated with spreadsheets is adding to this burden.

Where are the operational risks within the business? What is the reliance on spreadsheets and other legacy systems? And how can these risks be mitigated?

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